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Naturalgas trading range for the day is 215.5-237.7 - Kedia Advisory
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Crudeoil
Observations
Crudeoil trading range for the day is 6240-6490
Crude oil dropped amid signs of ample supply, includinggrowing U.S. crude inventories
U.S. crude oil and distillate stockpiles rose while gasolineinventories fell last week, the Energy Information Administrationsaid
Crude inventories rose by 1.2 million barrels in the week endingFeb. 24 to 480.2 million barrels
Russia's oil output back at pre-sanctions level -Kommersant
Naturalgas
Observations
Naturalgas trading range for the day is 215.5-237.7
Natural gas gains supported by a decrease in domestic gasoutput and rising flows of gas to LNG export plants.
Average gas output in the US Lower 48 states fell to 97.5 bcfd inFebruary from 98.3 bcfd in January
In addition, extreme cold in early February also cut gas outputby freezing oil and gas wells in several producing basins.
Gas stockpiles were about 15% above their five-year average(2018-2022)
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